Shares of ServiceNow Inc (NYSE:NOW) have received a consensus recommendation of “Buy” from the twenty-eight research firms that are covering the firm. Eight investment analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $95.51.

A number of research firms recently weighed in on NOW. MKM Partners restated a “neutral” rating and issued a $95.00 target price (up previously from $80.00) on shares of ServiceNow in a report on Monday, January 30th. Citigroup Inc upped their target price on shares of ServiceNow from $95.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. Goldman Sachs Group Inc upped their target price on shares of ServiceNow from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Barclays PLC upped their target price on shares of ServiceNow from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Finally, Mizuho restated a “buy” rating and issued a $100.00 target price on shares of ServiceNow in a report on Tuesday, February 28th.

Shares of ServiceNow (NYSE:NOW) opened at 88.11 on Tuesday. ServiceNow has a 52 week low of $59.77 and a 52 week high of $94.72. The firm’s market cap is $14.80 billion. The firm’s 50-day moving average is $89.82 and its 200 day moving average is $82.48.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 25th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. ServiceNow had a negative net margin of 32.49% and a negative return on equity of 44.13%. The company had revenue of $385.70 million for the quarter, compared to analyst estimates of $379.51 million. During the same quarter in the prior year, the business posted $0.19 EPS. The firm’s revenue was up 35.0% compared to the same quarter last year. Equities research analysts forecast that ServiceNow will post $1.08 EPS for the current year.

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In other news, Director Frederic B. Luddy sold 102,000 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $92.34, for a total transaction of $9,418,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederic B. Luddy sold 199,000 shares of the stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $76.04, for a total transaction of $15,131,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 547,046 shares of company stock valued at $45,829,304 over the last three months. Insiders own 5.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Sands Capital Management LLC increased its position in ServiceNow by 2,208.1% in the fourth quarter. Sands Capital Management LLC now owns 3,981,417 shares of the company’s stock worth $295,979,000 after buying an additional 3,808,917 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in ServiceNow by 16.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 24,810,116 shares of the company’s stock worth $1,963,721,000 after buying an additional 3,427,033 shares in the last quarter. Norges Bank bought a new position in ServiceNow during the fourth quarter worth $101,728,000. Criterion Capital Management LLC increased its position in ServiceNow by 23.0% in the third quarter. Criterion Capital Management LLC now owns 2,509,760 shares of the company’s stock worth $198,648,000 after buying an additional 468,800 shares in the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in ServiceNow during the third quarter worth $36,028,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

About ServiceNow

ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.

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